Chicago Mercantile Exchange (CME) grain prices were mixed on Wednesday May 1, with July soybeans rising by 7.25 cents per bushel to settle at $11.70 per bushel and July soymeal declined by $2.90 per short ton to $349 per ton.

Meanwhile, July corn increased by 4 cents per bushel to $4.50 per bushel, and July wheat dropped by 4 cents per bushel to close at $5.99 per bushel.

Grain futures fluctuated while market participants assessed the most recent mid-range weather forecasts, which suggest plenty of additional rainfall approaching the Midwest later this week. This could potentially help the quality and yield potential of winter wheat, while also causing some delays in corn and soybean plantings.

Weekly Ethanol Update

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